who is an estate planning lawyer?

An estate planning lawyer is a legal professional that helps clients create an estate plan that will protect their family from the effects of disability and death. Keep reading to learn more about the estate planning lawyer. What Does an Estate Planning Lawyer Do?

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How do you find an estate planning lawyer?

With these tips, you can find an attorney who has your best interests in mind. Start your search with this helpful guide today. 1. Ask Your Inner Circle. There are over 169,941 estate lawyers and attorneys in the US. Here in Michigan, there are over 35,000! By using this guide, you can find the best estate planning attorney in your area with ease.

What are the duties of an estate lawyer?

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How much does an estate planning attorney make?

The base salary for Estate Planning Attorney ranges from $62,818 to $77,594 with the average base salary of $69,838. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $62,950 to $78,212 with the average total cash compensation of $69,880.

What does an estate planning attorney do?

The lawyer explains that estate planning is very important in order to ensure the future of the family. A lot of hard work goes into accumulating wealth and securing a legacy. This is why it is very important to protect those assets and plan how they will be distributed in case the owner passes away.

What is an estate planning attorney?

An estate planning attorney is a lawyer who specializes in handling estate planning matters. In terms of certifications, these lawyers are no different from ones who specialize in mergers and acquisitions or personal injury suits. Regardless of specialty, they still have to pass the bar exam for the state in which they practice.

How to plan for estate?

Tips for Planning Your Estate 1 To maximize the legacy you leave to your heirs, you’ll need a comprehensive financial plan and investing strategy. A financial advisor can help you with both. Luckily, SmartAsset’s free tool can match you with up to three advisors in your area. Get started now. 2 It’s never pleasant to think about, but there may come a time when you’re unable to make decisions for yourself. For these scenarios, a living will or another form of advance directive can help ensure your family knows your wishes.

What is an AEP certification?

Here are a few examples of certifications you might see: Accredited Estate Planner (AEP): The National Association of Estate Planners and Councils awards the accredited estate planner designation to licensed attorneys, CPAs, chartered life underwriters and certain other financial advisors.

Why is state specific expertise important?

State-specific expertise is particularly important when it comes to estate planning. That’s because laws and probate procedures differ by state and locale. On a less technical note, you should look for an estate planning attorney who puts you at ease.

What is the best way to plan an estate?

An estate planning attorney can help you determine a plan that makes the most sense for your unique situation. With the help of a qualified professional, you can go into the estate planning process with confidence. This will leave you knowing that your plan is airtight, which will only bring you ease.

Do estate planning attorneys need certifications?

While an estate planning attorney doesn’t need separate certifications to practice, some choose to attain further credentials. Some of these are available to professionals who aren’t lawyers, such as financial advisors or accountants.

Can an estate planning lawyer help you write a will?

This assistance can manifest itself in a number of ways. Most notably, estate planning lawyers can help you write a last will and testament and set up a trust. Your estate planning lawyer can also aid you in minimizing any estate or inheritance taxes.

What is an estate lawyer?

An estate lawyer is trained in matters related to passing on your assets after you die, and planning for situations where you can no longer care for yourself. They are experts in wills, trusts, and your local probate process. Some estate lawyers may also have specialties, like planning the succession of a business.

How to leave assets to stepchild?

To leave assets to a stepchild, stepparent, or half-sibling, consider working with an estate lawyer. Most people could benefit from working with an estate planning attorney, but it may not be necessary (and you may not want to pay for it) in many situations. On the other hand, people in certain situations may need the help ...

Can you pass on your estate if you aren't survived?

This only happens if you aren’t survived by a spouse or child, but a solid estate plan will protect your assets and allow you to pass on as much of your estate as possible. If this is your situation, you may want to look for an estate lawyer who specializes in elder law. You want to set up an irrevocable trust .

Can you pass on assets to a business partner?

You have out-of-state property or assets . Passing on assets can get tricky if they’re crossing state boundaries, since two states may have different tax codes or other legal requirements for how to transfer an asset.

Do you need a guardian if you have a special needs person?

You have immediate family members with special needs or who will require a guardian . If you provide care for anyone who has special needs or is incapacitated ( cannot care for themselves) then you probably need to appoint a guardian for them in your estate planning documents.

Can you bequeath assets to someone who isn't a citizen?

You have foreign property or assets . You’re planning to bequeath assets to someone who isn’t a citizen . You could also run into issues if you plan to name an executor who isn't a legal U.S. resident. Certain tasks, like getting a tax ID to open an estate account, may not be possible for nonresidents.

Disclaimer

This site is provided as a public service by the ABA Real Property, Trust and Estate Law Section. While the information on this site is about legal issues, it is not legal advice or legal representation.

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What is estate planning?

An estate is the real and/or personal property a person possesses at death. The practice area of estate planning law involves the drafting of living wills, trusts, powers of attorney, and other documents to facilitate the transfer and management of property after death. When estates aren't managed and someone dies without a will, ...

What is probate in real estate?

Probate: The legal process of transferring of property upon a person's death, particularly in the absence of a will. Real Property: Property consisting of land, buildings, crops, or other resources still attached to or within the land or improvements; or fixtures permanently attached to the land or a structure on it.

What is an intestate will?

Intestate: Having not made a valid will before death; not disposing of property of by a valid will. Advance Directive: A document (as a living will or durable power of attorney) in which a person expresses his or her wishes regarding medical treatment in the event of incapacitation.

What is a living will?

Living Wills: Legal document outlining medical and end-of-life preferences in the event that you are unable to communicate these wishes.

What happens if you don't make a will?

When estates aren't managed and someone dies without a will, their possessions will distributed to their next of kin. By not making a will or otherwise making estate plans, the individual gives up control of their estate and has no say in how the property is divided.

What is an Estate Planning Attorney?

Estate Planning attorneys are licensed legal professionals who have a clear and thorough understanding of federal and individual state laws surrounding everything having to do with an estate.

5 Tips for Choosing an Estate Planning Attorney

Now that you understand what, exactly, an Estate Planning attorney is, you may be wondering how to find an Estate Planning attorney who’s right for you, your situation and your estate. You can find the perfect attorney for all your needs by following five simple steps.

Find the Right Estate Planning Attorney for You

Creating your estate plan is one of the most important things you’ll do in life. Finding the right Estate Planning attorney can help you do it. Your estate plan protects you. It helps ensure that your loved ones will have the comfort of knowing you cared enough to prepare for their future.

Finding an Estate Planning Lawyer

Some lawyers specialize in estate planning or even in certain types of estate planning. You will want to hire a specialist if you have a complex issue, such as an issue involving taxes, government benefits, or beneficiaries who are foreign nationals.

Using a Lawyer to Check Your Work

If you have already created your estate planning documents, you may feel anxious about whether you have actually met all of the requirements to make them valid. To put your mind at ease, you may be tempted to consult a lawyer to briefly review them.